Human endeavors necessitate logistics, most especially when conducting interstate business transactions. Transporting goods from one location to another can be a hassle for businesses, but with the rise of logistics startups, things are getting easier for them, and these companies are gaining traction.
Chargel, a Senegalese logistics startup, has recently raised $750,000 in pre-seed funding to help improve the trucking industry’s efficiency, reliability, and transparency in Senegal and Francophone West Africa.
About Chargel
Co-founded by Moustapha and Alioune Ndoye, Chargel is digitizing the offline operations of trucking by connecting shippers with suitable transporters at the right price and managing payments and fuel management, insurance, and other services.
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The business is establishing Senegal’s largest trucking network, making it easy for thousands of shippers to connect with transporters and allowing transporters to maximize their truck capacity.
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Commenting on the funding, Moustapha reveals that the funds will be used to get the company’s operations off the ground and prepare the company for a seed round later this year.
What They Are Saying About The Funding
“We are super excited by the response Chargel has received from both shippers and transporters during its pilot phase and can’t wait to embark on our mission to make trucking in our region more efficient, reliable, and transparent. I can’t thank our investors enough for their trust in us and their faith in our startup,” says Moustapha.
The round, which is a mix of equity and debt, saw the participation of Century Oak Capital and Logos Ventures alongside prominent angel investors from Senegal, Kenya, Ghana, and Nigeria.
Raja Kaul, the founder and managing partner of Logos Ventures, disclosed his pleasure to support the Chargel team as they strive to transform the trucking industry in Senegal.
“We strongly believe that Moustapha and Alioune are positioned to build Chargel into a leading logistics marketplace in Senegal, and eventually across West Africa, based on their extensive entrepreneurial experience founding and exiting Teranga Solutions to HotelOnline, as well as working at Senegal’s first unicorn Wave Mobile Money,” he said.